Industry News
Mortgage Industry News
Purchase Applications Jump
01/13/2010
Bonds are trading lower this morning on a relatively light day for economic data. MBA Purchase Applications jumped from 0.5% to 14.3% week over week and the Fed's Beige book is scheduled for release at 2:00 EST. Right now, the futures market is pricing in a 86% chance that the Fed keeps rates somewhere between 0% and .25% through April 28th, 2010. Currently, the Ten Year yield is at 3.75% and the 2-10 yield spread is at 281bps, flattening 1bp since yesterday morning.
